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Last $83.95 USD
Change Today +0.20 / 0.24%
Volume 250.0K
SPW On Other Exchanges
Symbol
Exchange
New York
Munich
As of 6:40 PM 03/26/15 All times are local (Market data is delayed by at least 15 minutes).

spx corp (SPW) Key Developments

SPX Corporation Appoints Anne K. Altman as an Additional Member of the Board of Directors

SPX Corporation announced that its Board of Directors has appointed Anne K. Altman as an additional member of the company's Board of Directors. Ms. Altman will stand for election at the company's May 2015 Annual Meeting for a term expiring in 2018. Ms. Altman currently serves on the IBM Performance Team, as well as on the Advisory Board to IBM's Industry Academy.

SPX Corporation Wins Contract from Midfield Group to Help Establish Dairy Powder Processing Plant in Australia

SPX Corporation announced that its Flow Food and Beverage business has been awarded a contract from the Midfield Group. The contract calls for SPX to help Midfield establish a new dairy powder processing plant in Australia. The facility will have the capacity to produce both whole and skim milk powder and will also include an anhydrous milk fat (AMF) processing line. The completed facility will feature an array of SPX equipment including a new preheating process to provide longer run times, enhanced evaporation technology and will utilize SPX's Triple-A dryer enabling production of high quality milk powders. Work on the project will commence in the first quarter of 2015 and it is anticipated the new plant will begin operating in mid-2016.

SPX Corporation Announces Executive Changes

SPX Corporation announced that on February 24, 2015, Kevin L. Lilly, notified the company of his intent to retire from the position of the company’s Senior Vice President, Secretary, and General Counsel, effective on or about April 3, 2015. The board of directors of the company has appointed Stephen A. Tsoris to the role of Vice President, Secretary, and General Counsel, effective upon Mr. Lilly’s retirement.

SPX Corporation Declares Quarterly Dividend, Payable on April 1, 2015

SPX Corporation announced that its board of directors has declared a quarterly dividend of $0.375 per common share payable on April 1, 2015 to shareholders of record on March 16, 2015.

SPX Wins Contract from Arla Foods for New Processing Systems at Large Dairy Plant in Aylesbury, UK

SPX Corporation announced that its Flow Food and Beverage business has been awarded a second- phase process contract from Arla Foods, a global dairy company and co-operative owned by 13,500 dairy farmers across Europe. Under the terms of the contract, SPX will design and install a new processing system for Arla Foods' fresh milk dairy located in Aylesbury, UK. Arla is the number one dairy company in the UK and produces some of the UK's best known dairy brands, including Anchor, Cravendale, Lurpak and Tickler. The Aylesbury site officially opened in May of 2014 and, upon completion of this second phase, will be capable of producing up to 240,000 litres per hour and one billion litres per year. The milk is supplied by 900 British farmers, the majority of whom are farmer-owners. This marks the second contract that Arla has awarded to SPX for its Aylesbury dairy processing plant. The first contract, awarded in 2011, called for SPX to provide a full-line, customized dairy processing system capable of producing 650 million litres of fresh milk per year. When this latest second phase is installed, the Aylesbury plant is expected to have the capacity to produce approximately one billion litres of fresh milk per year. The facility was designed to set a new standard for sustainability by being the to generate zero emissions. According to Arla, it has already achieved zero waste to landfill and will harness renewable energy opportunities.

 

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SPW

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Valuation SPW Industry Range
Price/Earnings 9.3x
Price/Sales 0.7x
Price/Book 1.9x
Price/Cash Flow 8.0x
TEV/Sales 0.3x
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